The Valeant Litigation plaintiffs allege that Valeant failed to disclose that it had engaged in price gouging and had created a secret network of specialty pharmacies in order to avoid scrutiny. Plaintiffs further allege that once Valeant’s deceptive practices were disclosed to the public, Valeant’s share price fell dramatically. Counts III through VI of the plaintiffs’ complaint alleged violations of Section 12(a)(2) based on purportedly defective disclosures in the offering of senior notes to QIBs pursuant to Rule 144A (the “Note Offerings”). The offering memorandum for these Note Offerings stated that the notes would not be registered with the S.E.C. or offered to the general public.

MINTZ LEVIN’S CLASS ACTION PRACTICE

Class actions are high-stakes, time-consuming, and costly, and they can present a substantial risk to the livelihood of your business. That’s why it’s critical to have defense counsel knowledgeable about and experienced in the specialized issues involved in these actions. Our national team has won landmark rulings and served as counsel in some of the largest multistate and stand-alone class actions. We combine substantive industry knowledge with procedural experience in class action defense, and have successfully defeated dozens of class certification motions.Read More